Speaking during a day-long meeting with investors at the company’s HQ, Intel chairman Andy Bryant admitted how ill-prepared the company had been for the transition from the PC to post-PC devices and how he is ’embarrassed’ that company had lost its way.

There’s little doubt that the speed and ferocity of the transition from the PC to post-PC devices caught many companies on the hop. The big names that had dominated the PC landscape for decades were caught out by the sudden shift in both consumer and enterprise spending away from desktops and notebooks, and instead to buying cheaper devices in the form of smartphones and tablets. But now Intel chairman Andy Bryant explains just how badly caught out the company was.